NYC REAL ESTATE ACTUAL EXAM TEST|COMPLETE AND GRADED
QUESTIONS AND ANSWERS 2026 LATEST UPDATED | 100% GRADED
CORRECT | 100% GUARANTEED TO PASS | GET A+
When parenters of a real estate firm become liscensed they are.. - (ANSWER)a representative
broker
Associate Real Estate Broker - (ANSWER)An associate real estate broker is an individual who
has otherwise qualified to be a broker but has chosen to work as a salesperson, under the
sponsorship and direct supervision of another broker. The associate real estate broker must meet
all the qualifications for a broker's license and pass the broker's examination, but is licensed to
transact business in the name of the sponsor or sponsoring broker; however, once licensed, an
associate broker is governed by those license-law provisions that apply to real estate
salespersons. In New York, associate real estate brokers may also hold a broker's license in their
own name. When a broker of any type holds more than one license, or when a salesperson holds
separate licenses to work under more than one broker, this is commonly called dual licensure
in the 1920s - (ANSWER)property and agent disclosures were nion exsisitent
In 1922, New York State passed pioneering legislation that would regulate the real estate industry
- (ANSWER)
,REAL PROPERTY LAW ARTICLE 12A - (ANSWER)
Violation of the license law - (ANSWER)is a misdemeanor punishable by up to a year in jail
and a fine of up to $1,000 per violation
The New York Real Property Law (NY RPL, or RPL), Article 12-A, which went into effect in
1922 - (ANSWER)is the main source of law for real estate licenses in New York
New York's empowering of a state agency to regulate real estate brokerage activities is in
contrast to many other states in which real estate commissions made up largely of real estate
brokers self-regulate the industry - (ANSWER)
the Division of Licensing Services does share some regulatory duties with New York's State
Board of Real Estate, which has 15 members - (ANSWER)
real estate licensing is required for any person who - (ANSWER)performs a real estate act,
for another, and
for or in anticipation of compensation or other valuable consideration
,A real estate broker - (ANSWER)legal person, partnership, entity, or corporation that for a fee
(or the expectation of a fee) performs for another any of the following 11 services:
Negotiates any form of real estate transaction
Lists or attempts to list real property for sale
Negotiates a loan secured by a mortgage (other than a residential mortgage loan [one- to four-
family dwelling], as defined in Section 590 of the New York Banking Law)
Negotiates a lease
Collects rents for more than one client (property management services)
Sells a lot or parcel of land by auction
Negotiates the sale of a parcel of subdivided land
Exchanges real property
Relocates commercial or residential tenants
Engages in the sale of condominiums and cooperatives
Sells a business that has more than half its value in real estate
Salesperson - (ANSWER)A real estate salesperson is one who assists a broker in the
performance and disposition of the broker's business concerning any of the aforementioned 11
services performed by the broker. Brokers are authorized to operate their own real estate
business, but salespersons may work only in the name of and under the direct supervision of a
, sponsoring broker. The salesperson may never accept a commission or other compensation of
any kind from anyone except the supervising/principal broker.
dual liscensure - (ANSWER)When a broker of any type holds more than one license, or when a
salesperson holds separate licenses to work under more than one broker
A license issued to a corporation, partnership, or limited liability company entitles one
designated officer, partner, or limited-liability-company member or manager to act as a broker,
based on that person having completed the licensing requirements personally - (ANSWER)
representative broker - (ANSWER)
The provisions of the license law requiring licensure do not apply to the following: -
(ANSWER)Public officers while they are performing their official duties
Persons acting under order of a court (executors, guardians, referees, receivers, administrators)
Attorneys licensed in New York (Note: Attorneys who set up a brokerage business with
associated salespersons under their sponsorship and supervision must obtain a broker's license
but need not take the prelicense courses or state examination.)
A resident manager employed by only one owner to manage or maintain rental property when the
leasing of units or the collection of rents is part of the manager's regular duties
QUESTIONS AND ANSWERS 2026 LATEST UPDATED | 100% GRADED
CORRECT | 100% GUARANTEED TO PASS | GET A+
When parenters of a real estate firm become liscensed they are.. - (ANSWER)a representative
broker
Associate Real Estate Broker - (ANSWER)An associate real estate broker is an individual who
has otherwise qualified to be a broker but has chosen to work as a salesperson, under the
sponsorship and direct supervision of another broker. The associate real estate broker must meet
all the qualifications for a broker's license and pass the broker's examination, but is licensed to
transact business in the name of the sponsor or sponsoring broker; however, once licensed, an
associate broker is governed by those license-law provisions that apply to real estate
salespersons. In New York, associate real estate brokers may also hold a broker's license in their
own name. When a broker of any type holds more than one license, or when a salesperson holds
separate licenses to work under more than one broker, this is commonly called dual licensure
in the 1920s - (ANSWER)property and agent disclosures were nion exsisitent
In 1922, New York State passed pioneering legislation that would regulate the real estate industry
- (ANSWER)
,REAL PROPERTY LAW ARTICLE 12A - (ANSWER)
Violation of the license law - (ANSWER)is a misdemeanor punishable by up to a year in jail
and a fine of up to $1,000 per violation
The New York Real Property Law (NY RPL, or RPL), Article 12-A, which went into effect in
1922 - (ANSWER)is the main source of law for real estate licenses in New York
New York's empowering of a state agency to regulate real estate brokerage activities is in
contrast to many other states in which real estate commissions made up largely of real estate
brokers self-regulate the industry - (ANSWER)
the Division of Licensing Services does share some regulatory duties with New York's State
Board of Real Estate, which has 15 members - (ANSWER)
real estate licensing is required for any person who - (ANSWER)performs a real estate act,
for another, and
for or in anticipation of compensation or other valuable consideration
,A real estate broker - (ANSWER)legal person, partnership, entity, or corporation that for a fee
(or the expectation of a fee) performs for another any of the following 11 services:
Negotiates any form of real estate transaction
Lists or attempts to list real property for sale
Negotiates a loan secured by a mortgage (other than a residential mortgage loan [one- to four-
family dwelling], as defined in Section 590 of the New York Banking Law)
Negotiates a lease
Collects rents for more than one client (property management services)
Sells a lot or parcel of land by auction
Negotiates the sale of a parcel of subdivided land
Exchanges real property
Relocates commercial or residential tenants
Engages in the sale of condominiums and cooperatives
Sells a business that has more than half its value in real estate
Salesperson - (ANSWER)A real estate salesperson is one who assists a broker in the
performance and disposition of the broker's business concerning any of the aforementioned 11
services performed by the broker. Brokers are authorized to operate their own real estate
business, but salespersons may work only in the name of and under the direct supervision of a
, sponsoring broker. The salesperson may never accept a commission or other compensation of
any kind from anyone except the supervising/principal broker.
dual liscensure - (ANSWER)When a broker of any type holds more than one license, or when a
salesperson holds separate licenses to work under more than one broker
A license issued to a corporation, partnership, or limited liability company entitles one
designated officer, partner, or limited-liability-company member or manager to act as a broker,
based on that person having completed the licensing requirements personally - (ANSWER)
representative broker - (ANSWER)
The provisions of the license law requiring licensure do not apply to the following: -
(ANSWER)Public officers while they are performing their official duties
Persons acting under order of a court (executors, guardians, referees, receivers, administrators)
Attorneys licensed in New York (Note: Attorneys who set up a brokerage business with
associated salespersons under their sponsorship and supervision must obtain a broker's license
but need not take the prelicense courses or state examination.)
A resident manager employed by only one owner to manage or maintain rental property when the
leasing of units or the collection of rents is part of the manager's regular duties
